The global banking & payments industry experienced a 65% drop in company filings mentions of social media in Q2 2023 compared with the previous quarter, with the highest share accounted for by Public Bank with 7% year-on-year increase, according to GlobalData’s analysis of over 251 banking & payments company filings. GlobalData’s Social Media in Payments – Thematic Research report helps understand the strategies social media platforms use to integrate social commerce into their infrastructure. It includes the social media in the payments industry analysis and covers the leading companies in the theme. Buy the report here.

Notably, social media was one of the most frequently referenced themes in Q2 2023, ranking highest in terms of mentions, ahead of internet of things and 3d printing, according to GlobalData.

Of the top leading companies in the banking & payments industry, Public Bank had the greatest increase in references for social media in Q2 2023, compared with the previous quarter. GlobalData identified 15 social media-related sentences in the company's filings - 0.3% of all sentences - and an increase of 100% in Q2 2023 compared with Q2 2022. Bank Leumi le-Israel BM’s mentions of social media rose by 200% to 7 and Bank of Baroda’s by 100% to 7 and Itau Unibanco Holding’s by 100% to 5 and State Bank of India’s by 100% to 4.

GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for social media in Q2 2023 was 103.

For further understanding of GlobalData's Social Media in Payments - Thematic Research buy the report here.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies across the world’s largest industries.